Netflix's movie strategy can be summed up in one sentence: spend more money than God and hope something sticks.
In 2023, Netflix spent approximately $17 billion on content. To put that in perspective, the entire US independent film industry — every indie movie made in America — represents a tiny fraction of that number. Netflix spends more on content in a month than most studios spend in a year.
And yet: name five Netflix original movies from the past two years that you'd recommend to a friend. Take your time. I'll wait.
The Content Factory
Netflix doesn't think in terms of "good movies" and "bad movies." They think in terms of content units. Each movie is a product designed to accomplish one thing: keep you subscribed for another month. The movie doesn't need to be good. It needs to exist. It needs a recognizable face on the thumbnail. It needs to fill a genre category in the algorithm.
This is why every Netflix original feels the same. Not in genre — they make action movies, comedies, thrillers, sci-fi. But in energy. They all feel... fine. Adequate. Watchable while you fold laundry. Nothing that makes you sit up and pay attention. Nothing that changes how you think about movies.
They're not making movies. They're manufacturing content. And there's a difference.
The A-List Tax
Netflix pays above-market rates to attract big names. Ryan Reynolds, The Rock, Chris Hemsworth, Jennifer Lopez — everyone gets a massive payday because Netflix needs the star power more than the star needs Netflix.
The problem: expensive actors don't make good movies. Good scripts make good movies. But Netflix doesn't invest in script development the way they invest in casting. They'll pay Ryan Reynolds $20M and give the script to a writer who had two weeks to deliver a draft.
The star shows up, delivers "charming leading man" energy for 90 minutes, collects the check, and moves on. The movie is "fine." It trends for 48 hours. Nobody ever mentions it again.
What $17 Billion Could Build
For $17 billion a year, Netflix could fund an A24-style development pipeline that takes time, nurtures talent, and prioritizes quality. They could greenlight 200 movies at $10M each with proper script development, and still have $15 billion left over.
Instead, they greenlight 10 movies at $200M each with rushed scripts, and 50 movies at $50M each with adequate scripts, and fill the rest with licensed content and reality TV.
The choice to prioritize volume over quality isn't a budget constraint — it's a philosophy. Netflix has decided that good enough is good enough. And every crew member who works on their productions, every VFX artist who crunches for months, every actor who gives their performance — they're all in service of "good enough."
These people deserve to make great movies. Netflix has the money to let them. The decision not to is a choice, and it's one that costs everyone — audiences, crews, and the industry — more than any budget line item can capture.